New PepsiCo push for cost cuts as strong US$ hits sales

Atlanta

PEPSICO Inc, the world's largest snack maker and second-largest beverage company, vowed to keep a tight lid on expenses this year as the strong dollar takes a bigger bite out of overseas sales than expected.

The company said on Thursday that it remains on track to achieve US$1 billion in cost savings this year and plans to return US$8.5 billion to US$9 billion to shareholders.